DEVRO acquired by SARIA

3i Group plc continues the development of its European bakery platform through the combination of Dutch Bakery and coolback. Dutch Bakery is a leading producer of private-label bake-off bread and snack products, serving retail and foodservice customers across European markets. The transaction represents a key milestone in 3i’s original investment thesis. By combining Dutch Bakery and coolback, the business is rebranded as European Bakery Group, creating a pan-European platform focused on bake-off bread and snack products

This transaction represents a complete ownership transition of Gigi Gelato to Greenyard’s Long Fresh division, structured to maintain management continuity through the retention of the target’s three original founders to lead ongoing product R&D and commercial positioning. The acquisition fits Greenyard’s strict capital deployment logic, which dictates migrating the product mix toward premium, high-margin frozen snacks that can instantly leverage the group’s existing infrastructure, procurement scale, and pan-European retail distribution tracks

The acquisition of Royal Buisman by Nactarome is a strategic move to drive long-term growth, aimed at solidifying Nactarome's position in the natural ingredients market for the food and beverage industry. As a specialist in natural caramel ingredients, Royal Buisman brings a complementary offering to Nactarome's portfolio, with a range of products that cater to customers' needs in terms of flavor, color, and texture. This transaction enables Nactarome to expand its geographic footprint, particularly in Europe, and strengthen its network of key clients, with an increased presence in five new countries

Carlsberg has completed the acquisition of 100% of Waterloo Brewing's shares, aiming to bolster its presence in the Canadian market, where the group had previously maintained a relatively limited footprint. The integration of Waterloo Brewing enables Carlsberg to tap into a complementary portfolio of local beers, ciders, and ready-to-drink beverages, while leveraging strong regional brand recognition and an existing industrial infrastructure. The transaction also generates significant industrial and commercial synergies

Lucas Bols completed the acquisition of 100% of Fluère to strategically enter the rapidly growing non-alcoholic spirits market. This "bolt-on" acquisition allows Lucas Bols to capitalize on the "mindful drinking" trend, providing a sophisticated alcohol-free alternative to its global client base of professional bartenders and distributors. The transaction was structured to facilitate a seamless transition and integration, finalized by April 2023. By bringing Fluère into its portfolio, Lucas Bols can leverage its existing global distribution power and century-old expertise in flavor distillation to scale the brand internationally

Routin-1883 acquired 100% of Cappuccine to accelerate its footprint in the North American market, the world's largest for coffee shops and mixology. This acquisition marks Routin's third external growth operation since Apax's entry in 2019 (following Eyguebelle and Artonic). The deal was financed through a mix of equity and debt (LCL, Credit Agricole). By integrating Cappuccine's powdered mix expertise, Routin diversifies its product portfolio to offer a complete "one-stop-shop" solution for coffee chains and the Foodservice industry globally

PAI Partners' investment in La Compagnie des Desserts, a specialist in frozen pastries and ice cream for professionals, is part of a broader strategy to expand geographically and diversify operations. With a workforce of 700 employees, the company aims to achieve revenues of 180 million euros by 2027, up from 117 million euros in 2022, driven by approximately 20 annual hires. This growth will be fueled by the development of new market segments, such as leisure, take-out sales, and dark kitchens, as well as entry into new geographic markets, including Scandinavia, Italy, Germany, and Austria, potentially through targeted acquisitions, thereby increasing its global footprint and broadening its customer base, with the ultimate goal of enhancing its financial performance and competitiveness in the industry

Refresco has completed the acquisition of Avandis, a Dutch manufacturer of alcoholic beverages, from Lucas Bols and De Kuyper Royal Distillers, two leading players in the spirits and cocktail industry. The transaction was finalized in January 2023, following the signing of the initial agreement in October 2022 and the receipt of regulatory approvals. Avandis is a contract manufacturer specializing in the production of alcoholic beverages, headquartered in Zoetermeer, Netherlands. The company provides manufacturing solutions for spirits and cocktail brands, with a strong expertise in complex products and private-label productions

Brown‑Forman Corporation has completed the acquisition of the Diplomático Rum brand and its associated corporate assets from Destillers United Group S.L.. The transaction structure transfers full brand ownership alongside a dedicated aging, bottling, and shipping production facility located in Panama. As part of the closing integration, the purchasing group integrates more than 100 employees into its global corporate workforce. Under the terms of the agreement, Destillers United Group S.L. will retain manufacturing operations, continuing to produce and age the rum line at its original distillery located at the foot of the Andes mountains

Kerry Group entered into exclusive negotiations to divest its Sweet Ingredients Portfolio to IRCA, a portfolio company of the global private equity firm Advent International. This transaction represents a strategic move for Kerry Group to refine and enhance its core Taste & Nutrition business. By divesting the sweet ingredients assets, Kerry aims to sharpen its focus on higher-value and more strategic areas of its portfolio, aligning its resources with segments where it can generate the most significant value